The Innovate Scheme aims to facilitate the creation of Business Research Partnerships through collaboration between Small and Medium Enterprises (SMEs) and Research and Knowledge-Dissemination Organisations to engage in projects leading to product, process and organisational innovation. This will facilitate access to expertise and the generating of new knowledge and aims to accelerate innovation, enhance business performance and drive competitive advantage.
The supported activities should lead to new or improved products, services and/or processes with supported projects commencing within 12 months from the date the funding is approved. Such projects must be implemented and completed within 36 months from the commencement date.
The aid awarded under this measure is capped at 50% of the eligible costs up to a maximum of €100,000 per Business Research Partnership, which can be increased to 100% of eligible costs up to a maximum of €200,000 in specific cases and subject to criteria.
Eligible costs include:
Applications should reach Malta Enterprise Corporation (MEC) at least 12 weeks prior to the commencement of the project and in any case not later than 31 August 2023.
Delivering on Malta’s commitment to be climate neutral by 2050 will require substantial investment from the private and public sector alike. As a result, green incentives are proliferating as the European Commission and Member State governments look to reach their environmental goals in an effective and cost-efficient manner. In this respect, Malta’s Recovery and Resilience Plan seeks to make the country future-ready through investments that will facilitate the green and digital transitions. In this regard, Government, through the Measures and Support Division (MSD) has launched new grant schemes targeting the renovation of private sector buildings and the digitalisation of the private sector.
Assistance under this Scheme is provided to self-employed persons or undertakings employing less than 50 full-time employees and having an annual turnover of less than €10 million. Aid is granted in the form of a tax credit amounting to 45% of eligible expenditure (65% for undertakings operating in Gozo (unless these are start-up undertakings) and in other specific circumstances) and should be utilised within the period prescribed on the incentive entitlement certificate. The maximum amount of aid awarded under this Scheme is capped at €50,000 over a three-year period on a group basis (may be increased to €70,000 in certain circumstances).
Companies wishing to apply for this scheme in relation to capital expenditure and wage costs incurred in 2021 should submit the online application by 14 December 2022. For such applications, the tax credits awarded in the Incentive Entitlement Certificate may then be utilised as from the year of assessment 2023.
